7000 East Adamo Drive in Tampa, Florida — Courtesy: STRO Cos./KRE Group
By Joshua Burd
The STRO Cos. and KRE Group have completed their latest acquisition in Florida, buying a 4.8-acre site in Tampa that’s home to a 44,000-square-foot industrial building.
The New Jersey-based firms say they’re planning significant renovations at the property, 7000 East Adamo Drive, in hopes of luring tenants with a highly functional facility with excess usable land. The site is also accessible from interstates 4, 75 and 275, the Selman Expressway and Tampa’s central business district, adding to the appeal for prospective users.
“We are excited to announce the acquisition of a highly valuable industrial infill property located in Tampa, Florida,” said Kevin Bramhall, STRO’s director of acquisitions for the Southeast. “This acquisition represents a key step in our strategy to enhance our industrial portfolio, focusing on assets with strong growth potential in prime, high-demand markets. As demand for infill industrial space grows, so does our conviction in the Tampa MSA and Southeast region as a whole. We remain committed to pursuing similar opportunities.”
JLL’s Peter Cecora, John Dunphy and Olivia Brock arranged the sale, the terms of which were not disclosed, and will now handle leasing on ownership’s behalf. The deal marks the latest joint venture involving STRO and KRE, which last year partnered on acquisitions in the Jacksonville, Tampa and Fort Lauderdale areas.
“Tampa’s industrial market continues to be a compelling place to invest, and 7000 East Adamo Drive is a great example of the type of asset we look for — well-located with the potential to add value,” KRE Group President Jonathan Kushner said. “We’re excited to partner with STRO on this acquisition and deliver a high-quality industrial space in a market with sustained demand.”
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